Price: $0.41432 -3.5947%
Market Cap: 60.92B 1.7664%
Volume (24h): 0 0%
Dominance: 1.7664%
Price: $0.41432 -3.5947%
Market Cap: 60.92B 1.7664%
Volume (24h): 0 0%
Dominance: 1.7664% 1.7664%
  • Price: $0.41432 -3.5947%
  • Market Cap: 60.92B 1.7664%
  • Volume (24h): 0 0%
  • Dominance: 1.7664% 1.7664%
  • Price: $0.41432 -3.5947%
Home > Information news > Bitcoin exchange inflows surge, increasing the likelihood of a selloff

Bitcoin exchange inflows surge, increasing the likelihood of a selloff

Release: 2024/12/04 16:48 Reading: 919

Original author:crypto.news

Original source:https://coinmarketcap.com/community/articles/67500d20d1382f6e7ebe4b50

Bitcoin exchange inflows surge, increasing the likelihood of a selloff

Bitcoin Inflows Surge, Hinting at Potential Selloff

Bitcoin (BTC) has experienced increased inflows into centralized exchanges since December 1st, indicating a potential sell-off. Data from IntoTheBlock shows a surge in BTC exchange net flows, from a net outflow of $69 million to a net inflow of $326 million. On December 3rd, BTC recorded a net inflow of $230 million.

In total, over $562 million in Bitcoin has entered CEX platforms, according to ITB data. The asset's large holder-to-exchange net flow ratio also rose to 0.86% on Tuesday, suggesting that Bitcoin whales have been more active than retail holders.

Large Bitcoin transactions (worth at least $100,000) increased from 17,960 to 25,830 during this time period. The large transaction volume surged from $38.7 billion to $87.3 billion in BTC on Monday, December 2nd. ITB reported that Bitcoin recorded a total of $169.6 billion in whale transactions over the last seven days.

On-chain data reveals that an 11-year-old whale address with 2,700 BTC (worth over $257 million) transferred the Bitcoin to another wallet for the first time since December 2013, hinting at a potential selloff due to the 157-fold return. The whale accumulated the Bitcoins when the price was around $625 for a total of $1.68 million.

Currently, Bitcoin hovers at $96,500 after gaining 1% over the past 24 hours. Its market cap has again surpassed $1.9 trillion.

The increased exchange inflows may trigger uncertainty and doubt among retail investors. However, a surge in whale accumulation could shift the market sentiment and create buying pressure.

The potential U.S. Federal Reserve rate cut could serve as the next major bullish catalyst for Bitcoin and altcoins. The FOMC meeting is scheduled for December 17th and 18th.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.